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Bloomberg
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Trump's tax law squeezes poor, boosts income for wealthy, says CBO
Earners in the middle of the distribution will see their annual resources grow by about $800 to $1,200 on average, according to the analysis
 "Trump's tax law squeezes poor, boosts income for wealthy, says CBO")
Donald Trump says gold imports won't be tariffed in reprieve for market
Gold futures traded on New York's Comex and the global benchmark for spot prices in London were little-changed after Trump's post
 "Donald Trump says gold imports won't be tariffed in reprieve for market")
India's tax reform needs more economic focus, less political manoeuvring
Over eight years later, GST has fallen short of expectations, prompting the government to appoint Home Minister Amit Shah to lead negotiations for its reform
 "India's tax reform needs more economic focus, less political manoeuvring")
State-run Shipping Corp of India to buy 26 local vessels in $2 bn deal
The ships will have cumulative internal volume of 1.18 million gross tonnes, and delivery will be staggered over several years as they are completed
 "State-run Shipping Corp of India to buy 26 local vessels in $2 bn deal")
Trump's 50% tariffs forcing Indian banks to scrutinise exporters' loans
Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding
 "Trump's 50% tariffs forcing Indian banks to scrutinise exporters' loans")
EV adoption surges in developing nations, challenging oil demand narrative
Like the EV surge in Gulf oil nations, it signals a rapid global shift to electric mobility, making OPEC's forecast of a 50% rise in developing nations' oil use by 2050 seem unrealistic
 "EV adoption surges in developing nations, challenging oil demand narrative")
Computer-driven traders bullish on stocks while humans remain bearish
Wall Street offers a lot of confident predictions, but the reality is nobody knows what will happen with President Donald Trump's trade agenda or the Federal Reserve's interest-rate policy
 "Computer-driven traders bullish on stocks while humans remain bearish")
US core inflation likely to increase as higher tariffs push up prices
The core consumer price index, regarded as a measure of underlying inflation because it strips out volatile food and energy costs, rose 0.3 per cent in July
 "US core inflation likely to increase as higher tariffs push up prices")
US inflation likely to rise in July as higher tariffs drive up prices
The core consumer price index, regarded as a measure of underlying inflation because it strips out volatile food and energy costs, rose 0.3 per cent in July, according to the Bloomberg survey
 "US inflation likely to rise in July as higher tariffs drive up prices")
Trump admin moves to dismiss Harvard's lawsuit over ban on foreign students
The dispute involves Harvard's certification with the Student Exchange and Visitor Program - a requirement for any university to enroll international students
 "Trump admin moves to dismiss Harvard's lawsuit over ban on foreign students")
Zelenskyy vows Ukraine won't cede land but seeks lasting peace with Trump
Zelenskyy said any decisions made without Ukraine are against peace and will achieve nothing
 "Zelenskyy vows Ukraine won't cede land but seeks lasting peace with Trump")
Trump admin threatens to seize millions in valuable Harvard patents
Harvard has until Sept. 5 to prove it's complying with the requirements, including whether it showed a preference for US manufacturing, or risk forfeiting its patents
 "Trump admin threatens to seize millions in valuable Harvard patents")
William Webster, only person to lead both FBI and CIA, dies at 101
Appointed judge by Nixon, FBI chief by Carter, and CIA head by Reagan, Webster was retained by George HW Bush until his retirement in 1991
 "William Webster, only person to lead both FBI and CIA, dies at 101")
Trump admin weighs military action against Latin American drug cartels
A pending US-Mexico security deal will enable joint monitoring of criminal groups and enhance coordination between security forces along the shared border
 "Trump admin weighs military action against Latin American drug cartels")
Trump weighs $30 bn Fannie Mae and Freddie Mac IPO for later this year
Plan could value the government-controlled mortgage giants at some $500 billion or more and would involve selling between 5% and 15% of their stock with an offering expected to raise about $30 billion
 "Trump weighs $30 bn Fannie Mae and Freddie Mac IPO for later this year")
Wall Street and AI startups are fighting over entry-level quants
his month, the San Francisco-based firm is going global with another quant "social hour" in London
 "Wall Street and AI startups are fighting over entry-level quants")
US gold bar tariffs spark market turmoil and price surge in New York
Gold futures in New York which are backed by those forms of bullion surged to a record high, as traders, analysts and executives across the industry were left reeling
 "US gold bar tariffs spark market turmoil and price surge in New York")
Scientists challenge flagship study that saw 62% climate hit to GDP
A review of an April Nature paper finds data anomalies from Uzbekistan skewed results, overstating the potential economic impact among 83 countries analysed in the original study
 "Scientists challenge flagship study that saw 62% climate hit to GDP")
Intel CEO Lip-Bu Tan says board backs him amid Trump's call for resignation
Tan has reached out to the White House to clear up what he called "misinformation" about his track record, he said in a letter to staff posted on Intel's website
 "Intel CEO Lip-Bu Tan says board backs him amid Trump's call for resignation")
How the US chose not to bully China but singled out India in trade war
The Indian establishment, which largely welcomed Trump's ascent to power and genuinely believed that the two were on the cusp of a mutually beneficial deal, seems somewhat shell-shocked
 "How the US chose not to bully China but singled out India in trade war")
